Robert Armstrong

So I take your point, but I think I...

I think I think the resource part of this is larger than you do, is what I would say.

Yeah, it's a good point.

Just before we move on to our second story here, I love what you say about how markets... We want markets to tell us the right story here, and we always want markets to tell us the right story here.

But...

They just don't.

Because the markets can only, they only care about so much.

And it's really interesting.

One of our research analysts on our team, Kristen O'Donoghue, was listening to the JP Morgan call and they're talking about what's happened in Venezuela and what's happened in Greenland.

And was pointing out that the way that they talk about it is so strikingly academic and uninterested in how...

cataclysmic the event really is.

I mean, we're talking about guns, war, death.

We're talking about very, very serious things.

But in a very unsatisfying way, it's the market's job and it's the Wall Street analyst's job to sort of treat it as if it's this, I don't know, an academic term or something that you write about in a research paper, which is so frustrating because it isn't that.

We'll be right back after the break.

And if you're enjoying the show so far, send it to a friend and please follow us if you haven't already.

We're back with Profiteer Markets.

Fourth quarter earnings season kicks off later this week with all of the big banks reporting, and we'll break down the results on next Monday's episode.

But today, we wanna zoom out and focus on the broader shift reshaping the industry.

One of those shifts is deregulation.